Qubic Restarts Blockchain and Opens Claims After $1.4M Wallet Hack
Qubic has restarted its Layer-1 blockchain and opened a recovery claims process after a wallet seed vulnerability enabled an attacker to steal about $1.4 million in QU tokens from 1,404 wallets. After validators, known as Computors, approved a recovery plan, Qubic resumed processing ticks on Oct. 19, moving past the point where the network had been paused at 85,371,949.
The vulnerability affected predictable wallet seeds generated by older versions of Qubic’s web wallet on some Apple devices and browsers. Qubic says version 4.26.4, released Oct. 19, fixes the flaw. Users who created wallets with earlier versions are advised to generate new wallets and move their funds. Affected users can submit claims through Qubic’s recovery platform until May 1, 2027. The restart and claims process offer a route to recovery, but the Qubic wallet hack raises ongoing security and trust concerns for QU traders.
Bearish
The incident is bearish for QU because the theft of about $1.4 million and the exposure of a wallet-generation flaw may weaken confidence in the token and its ecosystem. In the short term, traders may react to the hack with selling, heightened volatility and caution around wallet security, even though the blockchain has restarted and a recovery process is available. The restart, validator-approved plan and long claims deadline may limit some uncertainty, but they do not erase the loss or security concerns. Over the longer term, QU sentiment will depend on whether affected users are compensated, the wallet fix proves reliable, and Qubic demonstrates stronger security practices. A recovery could support confidence, while further incidents or delays could prolong selling pressure.